The IMA has warned against imposing dual control of fund management companies' activities by both its home state supervisor and the supervisor of the fund's member state.

Standard Life has introduced a structured product and two fixed rate accounts, responding to what it sees as adviser demand for 'safe haven' investments.

Family office Iveagh has launched its first Dublin-domiciled retail fund, the Iveagh Wealth fund, which will aim to seek annualised returns of 9.5pc.

Mortgage approvals have remained broadly stable in July but are far below the levels seen in 2007, according to the British Bankers Association (BBA),

Aggressive short-selling in the property investment sector is a "major factor" behind its current volatility with experts describing the trend as "unsettling", according to Reita.

Julius Baer has introduced its established Local Emerging Bond fund to UK investors.

A J Bell has appointed Richard Taylor as managing director for its pensions arm, responsible for its SSAS and SIPP business.

Resolution Asset Management (RAM) has published a guide to 130/30 funds in an effort to broaden understanding of short extension strategies among advisers and their clients.

The FTSE100 is more than 2% down this morning after renewed concerns for US financials sent Wall Street sharply lower overnight. London's blue chip index is currently 113.90 points (2.07%) down to 5391.70.

Sterling has sunk to a two-year low against the dollar as traders bet the Bank of England might be the only central bank to cut interest rates in 2008.